Measures introduced in last year’s budget have helped create employment and boost the commercial property and financial services sector, according to the Minister for Finance, Michael Noonan.
Speaking to the Dublin Chamber of Commerce, Mr Noonan said that there had been a broad-based recovery in the employment market with the agri-food, manufacturing and financial services among other sectors adding to the 34,000 jobs created over the past year.
“In August, the unemployment rate was 13.4%, down from 15.1% at the beginning of 2012. While all this progress is very encouraging, tackling unemployment will remain the Government’s priority for the foreseeable future as we build on the progress made over the past year.
“The Pathways to Work 2013 is a 50-point action plan that builds on the 2012 Pathways plan, and will involve a range of government departments and state agencies working in tandem to tackle unemployment.”
Mr Noonan said it was the Government’s intention to make a successful and durable exit from the IMF/EU bailout programme, which ends in November and a sustainable return to the markets.
The decision to introduce legislation for a real estate investment trust had helped breathe life into the commercial property market and a series of measures contained in the Finance Bill had helped boost the funds industry.
He said the pillar banks had met their SME lending targets over the past year. Moreover, the Credit Review Office had overturned 55% of loan rejections that had been appealed.
He noted that the Government is committed to retaining the corporate tax rate.
“This Government is committed to retaining this rate and the strategy that surrounds it. The objective of our corporation tax strategy is the creation of jobs and growth, by encouraging domestic enterprise and attracting foreign direct investment.”
“Our policy with regard to the rate is clear — Ireland has a low rate applied to a broad base. The Government’s clear commitment to the 12.5% rate provides certainty which is essential for business and supports planning and investment decisions in Ireland well into the long-term.”
Source: http://www.irishexaminer.com/business/last-budget-helped-create-jobs-242795.html